PARIS — U.S. President Donald Trump has pledged "economic warfare" against Iran, threatening any country that trades with the Islamic republic following months of stop-start hostilities. Here are the main players who could lose out if they continue to trade with Iran: China More than a quarter of Iran's trade takes place with China, with $18 billion in imports and $14.5 billion in exports in 2024, according to World Trade Organization (WTO) data. Hydrocarbons and chemical compounds like industrial alcohols and plastics accounted for the bulk of Tehran's exports to Beijing. In exchange, Iran bought industrial machinery, electronic equipment, cars and metals from China. UAE Before it announced this week that it was suspending all trade with Iran, the United Arab Emirates was a significant trading partner. In 2024, 30.6 percent of imports to Iran came from the UAE, valued at about $21 billion, according to the WTO. According to Iranian customs authorities, in the 10 months preceding January 2026, exports from Iran to the UAE registered $6.4 billion, while imports from the UAE totalled $14.81 b